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Liftoff Mobile jumps after strong Q4 revenue forecast

By Reuters News

** Shares of Blackstone-backed Liftoff Mobile LFTO.O rise 21.3% to $22.7 premarket

** Stock set to open at its highest in three months if premarket gains hold

** The Redwood City, California-based advertising tech co forecasts Q4 revenue of $244 million to $249 million, above analyst estimates of $240 million, according to data compiled by LSEG

** Reports Q3 revenue of $237.5 mln, compared with estimates of $222 mln

** LFTO's Q3 EPS came in 47 cents, blowing past estimates of 17 cents

** Brokerage Piper Sandler raises PT to $24 from $19

** Of 19 brokerages, 15 rate the stock "buy" or higher and 4 "hold", with a median PT of $27 - LSEG data

** As of last close, LFTO down about 19% since June IPO

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